Section 1198.5 - Financial report(a) The secretary of every memorial district shall annually prepare a financial report signed by the board of directors containing the following information and related data in such detail as may be necessary to accurately disclose its financial condition and operations during the preceding fiscal year:(1) Assets and liabilities at the beginning and end of the fiscal year.(2) Receipts of any kind and the sources thereof.(3) Disbursements of any kind and the purposes thereof, including funding distributed to providers of supportive services pursuant to subdivision (c) of Section 1191.(4) A list of all contracts, transactions, agreements, or other obligations entered into.(b) The board of every memorial district shall provide for the safekeeping of all records, at such places as the board may order and shall transfer such records to such boards as are subsequently elected under the provisions of this chapter.(c) The secretary of a memorial district may exclude information included in reports prepared pursuant to Section 26909, 53891, or 53901 of the Government Code from the report required pursuant to subdivision (a).Ca. Mil. and Vet. Code § 1198.5
Amended by Stats 2018 ch 183 (AB 1908),s 1, eff. 1/1/2019.